A how-to on home ownership
In case you missed it... You may not know that HomeStart are not actually a bank, they are a South Australian Government organisation established in 1989 to assist people on low to moderate incomes enter the into property market and purchase a home. “We have a range of loans requiring as low as 2% deposit and ways to affordably increase the amount you can borrow, through products such as shared equity and government grants,” said Dale Arnfield from HomeStart.
Housing Choices SA recently collaborated with Community Housing Limited, Your Place Housing, Junction Australia, Believe Housing Australia and the Community Housing Council of SA to host a series of home ownership seminars in February. HomeStart Finance discussed home loans, low deposit loans and the latest Government home loan initiatives, while HomeSeeker SA presented on the affordable housing program, including eligibility and the sales process.
Dale ran through some of the things HomeStart need to know to assist, including: • your situation • where you want to live and the type of property • your borrowing and repayment capacity • eligibility for grants • deposit – How much do you need and what does it cover • ways to get home loan ready such as cleaning up your credit rating and having a realistic budget
• government grants
Jodi Davey from the SA Housing Authority also encouraged residents to visit the state government’s Affordable Housing website, www.homeseeker.sa.gov.au . This trustworthy government website is a treasure trove of information about how to buy a home, rental resources and listing of properties for sale exclusively to eligible home buyers.
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